COMPANY NEWS

COMPANY NEWS; DEL MONTE FOODS TO SELL THREE PET FOOD BRANDS TO MARS

Published: February 7, 2004

Del Monte Foods agreed to sell its IVD, Medi-Cal and Techni-Cal pet food brands to the Royal Canin unit of Mars for $82.5 million to focus on other lines like 9-Lives. Del Monte's Canadian subsidiary will continue to manufacture some of the products during a transition period. The transaction is expected to close after receiving regulatory approval, Del Monte said. The brands being sold had sales of about $57 million last year. The sale will enable Del Monte, based in San Francisco, to concentrate on products like Kibbles 'n Bits and 9-Lives, said Richard Wolford, chief executive of the company. Mars is based in McLean, Va.